Bitcoin (BTC) $99,020.7 price Above $99,000 and the desired rise in cryptocurrencies in general has not started yet. At the time of writing, there is only a short time left until the US market opens. This week hosts important developments that may increase volatility in cryptocurrencies. News on Wednesday and Friday may increase momentum.
QCP Capital Crypto Comments
cryptocurrency Investment company evaluations offer the opportunity to monitor the markets from a broader perspective. Today MicroStrategy He reduced his new BTC purchase, and at the time of writing, the classic Saylor decline had not started yet. Maybe it will be a little delayed or this time they will turn news-oriented traders into a corner?
QCP Capital experts wrote the following in their evaluation today;
“We are having a positive start to the week with BTC managing to approach the 100 thousand level. BTC is once again facing a heavy sell wall, and this is the level where increased selling pressure was seen in December.
Alright BTC Will it break the 100 thousand level again? When this key level was first broken on December 5, funding had jumped over 60%. But this time funding levels remain healthy and we do not expect a higher squeeze in the near term. Unlike before, it’s also unlikely we’ll see any Trump-related catalysts until his inauguration on January 20. Frontend vols also remained soft with a relatively neutral distortion, indicating similar sentiment.
With no crypto-specific catalyst on the horizon, the focus will be on the first US jobs report of the year this Friday (January 10). However, expectations for Friday’s NFP will tighten throughout the week with the release of JOLTS hiring numbers and ADP on January 7.”
Critical Times in Cryptocurrencies
As January 20 approaches, we will see more details about Trump’s economic policies. We can be sure that we will see more announcements, more data, more volatility. The key problem in cryptocurrency markets is that the BTC price cannot remain permanently above six-digit levels. This feeds the false impression that those who expect a new correction to $86,000 and below are taking a logical stance.
The trend is still upward and cryptocurrency investors have the necessary conditions for further increases. Maybe we should care less about short-term fluctuations and look forward to the celebratory days when regulatory pressure on crypto is lifted in the coming months?
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
